£43m facility to fund new PBSA development in Newcastle

Overview

A £43 million refinance and development loan facility for a Vita Group 260-bed purpose-built student accommodation (PBSA) scheme in Newcastle city centre.

The Newcastle development is in the city centre, a 7-minute walk from the main Newcastle University campus, a 5-minute walk from the Newcastle University student union and business school and a 15-minute walk from Northumbria University’s main campus. The site was previously a furniture showroom that is set to be demolished to make way for this best-in-class student accommodation.

Vita Student Leazes Park will include outstanding amenities such as a state-of-the-art onsite gym, bookable private dining and study rooms and every bedroom will feature a high-quality fitout with floor to ceiling windows. There is also access to a private landscaped courtyard and basketball court.

Developed and operated by Vita Student, the scheme is targeting completion for incoming students that want to maximise their university experience during the September 2026 academic year.

Figures are subject to rounding.